Look At The Gold/Oil and Silver/Oil Cross

Egon von Greyerz, founder and Managing Partner of Matterhorn Asset Management AG & GoldSwitzerland is interviewed on King World. Something he said made me look at the Gold/WTIC cross. It appears that Gold is close to a turn against Oil looking at today’s action. The chart of the cross shows Gold appearing to bottom at 15.5 to Oil down from 22+ (See Chart). I’ve posted several times that Oil looks like it could jump to $119. What could that mean for Gold at 22+? 22 X $119 is $2,618 That’s a $900 jump. I think we are on the verge of a big move in Gold.

How about Silver? Silver is in somewhat the same position, not quite as far along as Gold as I see it, but a move to $119 in Oil, could give us $61 Silver (See Chart).

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